Tate & Lyle (LON:TATE) Stock Crosses Above 200-Day Moving Average of $633.78

Tate & Lyle plc (LON:TATE) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 633.78 ($8.15) and traded as high as GBX 652 ($8.39). Tate & Lyle shares last traded at GBX 641 ($8.25), with a volume of 2,615,745 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TATE. Barclays boosted their target price on Tate & Lyle from GBX 760 ($9.78) to GBX 790 ($10.16) and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Berenberg Bank reissued a “buy” rating and issued a GBX 860 ($11.06) target price on shares of Tate & Lyle in a research report on Wednesday, May 29th.

Tate & Lyle Price Performance

The stock has a market cap of £2.57 billion, a price-to-earnings ratio of 1,456.82, a PEG ratio of 2.25 and a beta of 0.47. The company has a 50-day moving average of GBX 646.86 and a 200-day moving average of GBX 633.84. The company has a debt-to-equity ratio of 52.89, a quick ratio of 1.77 and a current ratio of 2.88.

Tate & Lyle Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, August 2nd. Shareholders of record on Thursday, June 20th were issued a GBX 12.90 ($0.17) dividend. This represents a yield of 1.91%. The ex-dividend date was Thursday, June 20th. This is a positive change from Tate & Lyle’s previous dividend of $6.20. Tate & Lyle’s payout ratio is currently 4,318.18%.

Insider Buying and Selling at Tate & Lyle

In other Tate & Lyle news, insider Jeffrey Carr acquired 10,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were bought at an average price of GBX 624 ($8.03) per share, with a total value of £62,400 ($80,267.56). 1.68% of the stock is owned by corporate insiders.

Tate & Lyle Company Profile

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.